Total monthly cost of ownership
Cost to Own a Home in Ross, Indiana
A $115,000 home here costs
$1,049per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $591. The real number is $458 higher every month — 77% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Ross against Lake County and Indiana
| Measure | Ross | Lake County |
|---|---|---|
| Median home value | $114,600 | $214,700 |
| Median property tax | $979 | $1,987 |
| Effective tax rate | 0.854% | 0.925% |
| Median gross rent | $1,085 | $1,094 |
| Population | 6,740 | 498,990 |
The weather behind that power bill
Ross sits in Lake County, which averages a high of 85.0°F in its hottest month and a low of 18.4°F in its coldest, with 33.35" of precipitation a year and 34% of it in a single three-month stretch. That climate drives 975 cooling and 5,737 heating degree days, which is what sets the $163 electricity line above.
See the full climate breakdown for Lake County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Lake County
Common questions
How much does it cost to own a home in Ross?
A $115,000 home in Ross, Indiana costs approximately $1,049 per month with 20% down at 6.66%. That is $591 principal and interest, $82 property tax, $49 homeowners insurance, $231 utilities and $96 set aside for maintenance.
What is the property tax rate in Ross?
Ross has an effective property tax rate of 0.854%, based on a median home value of $114,600 and median real estate taxes of $979. That is lower than the Lake County average of 0.925%.
What is the average home price in Ross?
The median owner-occupied home value in Ross, Indiana is $114,600, against $214,700 across Lake County.
Is it cheaper to rent or buy in Ross?
Median gross rent in Ross is $1,085 a month, against $1,049 to own the median home all in. Owning costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Ross — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Indiana.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.